Business Capital Delivers $32mm Financing for California Water Bank
“My experience working with Chuck Doyle and the BizCap team was nothing short of exceptional. Their professional style can be captured with these four words: commitment, performance, honesty, and follow-thru. Job well done!” – Dave Siegel, President, West Point Advisors
Business Capital (BizCap) structured and secured a $32 million term loan for a California Rancher owning a 5,200 + acre property located in the Central Valley. The Client has been selling and conveying water for 25+ years, primarily to farming operations and water districts. In an agricultural and municipal system as large as California’s, water is in high demand and the ability to access, bank and control it for future distribution is critical.
The Client had an incumbent loan that was coming to maturity and required a specialized structure in order to pursue additional lucrative water contracts, even before they were executed. Business Capital was brought in by the Company’s financial adviser to assist with the complexity and speed needed for this transaction. BizCap was able to clearly underwrite the fluctuation in supply and demand, the effect on pricing, and secure an agriculture loan to support the Client’s strategic business goals.
“One thing is for sure in California: if we are not experiencing a drought, we will be soon. Our client is to be commended by municipalities, the agriculture industry, and the people of this state for his forward thinking and planning. We were pleased to be able to assist with this financing, it is another case in which our team worked successfully with special situations and exotic assets to provide immediate liquidity when conventional capital sources were not a viable option.” – Chuck Doyle, Managing Director, Business Capital